The benefits of aquatic exercise have long been known wherein the natural buoyancy of the body is utilized to relieve and support most of the weight from the skeleton or frame which permits selected muscle groups to be exercised without placing undue stress or strain on these or other adjacent body parts. In this way, the spine and joints are not subjected to the jarring contact experienced against hard running surfaces encountered by land joggers and the like. The cardiovascular benefits are also quite evident during aquatic exercise training in that the heart rate is about 13 beats less per minute in the water than on land. This is due to the fact that the water keeps the body cool so that the heart does not have to work as hard to pump blood to the surface of the skin for cooling as it does during land exercise. The above advantages are not only beneficial to relatively healthy people primarily interested in maintaining muscle tone and overall vigor but is especially helpful to handicapped people and others having serious medical problems. In the past, the only buoyant exercise device available for such people providing any sense of stability while leaving the hands, arms and legs somewhat free has been the conventional torso-fitted life jacket. Such life jackets or more recently the very expensive exercise vests are quite bulky and cumbersome to wear which restricts the user to a single substantially upright position in the water and prevents the user from assuming a more horizontal position on the stomach or back or a wide variety of other exercise positions which might be desirable to a full-rounded water exercise program. Other commercially available aquatic exercise devices have included inflatable water wings and the like which are difficult to slip on and off the arms and which must be appropriately sized for the particular user with a great variance in sizes required between children and adults. These also do not provide any support beneath the body and do not thereby instill any feeling of confidence particularly with the handicapped or others who may not feel particularly at home in the water. The prior art has also included separate hollow float members which must be individually tightly gripped in the hands and held throughout the exercise which unduly restricts the use of such devices to only a relatively few exercises and are too clumsy to permit any useful exercise of the arms. Therefore, it is recognized that it would be highly desirable to provide an aquatic exercise device which dependably supports the user in the water with virtually no restriction to freedom of movement of all parts of the body during an infinite number of exercises.